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Is it a possibility to lose them, yes. But how likely of a possibility? If you have a great relationship and have provided great service, I wouldn’t think they’d leave because you advised against one bet of theres. They’re paying you for your expertise. If your expertise says otherwise, offer that insight and explain why. Don’t sell yourself short and automatically think they’ll leave.
Dear SA, remember what your job is. You are not paid to make the client happy, you are paid to offer sound investment advice. If in your expert opinion the requested investment is a loser, tell them that. If they say they want to do it anyway, make the trade. It's their money and they are the "boss" in the relationship between you two. If they lose everything, you won't have to say I told you so, they will. If they hit a bonanza, congratulate them on their killer instinct and make a joke about them coming after your job or becoming your rival. Bottom line is you have to do your job. Making a bad trade that turns out badly, when you had good reason to believe it would, definitely does not look good on a resume.
Are they going for Gamestop? Lol I heard that's back. But no for real I agree with consultant 1: If they're not open to your advice then they'll find some reason to leave you at some point regardless. It'd be better to express your actual opinion than just execute the trade and have it blow up in your face.
Give them your best sincere advice, that would be the ethical thing to do. If they resist it, you can explain your reasoning (assuming they care to hear it). If they're really fixated on making the trade, caution them to maybe make a smaller trade and not put too much at risk. In the end, it's their call.
Advise them on a hedge?
Do we know how this ended?